Ingredion (INGR) Declares $0.71 Dividend
Ingredion said on March 15, 2023 that its board of directors declared a regular quarterly dividend of $0.71 per share ($2.84 annualized). Previously, the company paid $0.71 per share.
Shares must be purchased before the ex-div date of March 31, 2023 to qualify for the dividend. Shareholders of record as of April 3, 2023 will receive the payment on April 25, 2023.
At the current share price of $96.21 / share, the stock's dividend yield is 2.95%. Looking back five years and taking a sample every week, the average dividend yield has been 2.85%, the lowest has been 1.82%, and the highest has been 3.95%. The standard deviation of yields is 0.35 (n=236).
The current dividend yield is 0.29 standard deviations above the historical average.
Additionally, the company's dividend payout ratio is 0.38. The payout ratio tells us how much of a company's income is paid out in dividends. A payout ratio of one (1.0) means 100% of the company's income is paid in a dividend. A payout ratio greater than one means the company is dipping into savings in order to maintain its dividend - not a healthy situation. Companies with few growth prospects are expected to pay out most of their income in dividends, which typically means a payout ratio between 0.5 and 1.0. Companies with good growth prospects are expected to retain some earnings in order to invest in those growth prospects, which translates to a payout ratio of zero to 0.5.
The company's 3-Year dividend growth rate is 0.13%, demonstrating that it has increased its dividend over time.
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Analyst Price Forecast Suggests 14.92% Upside
As of March 16, 2023, the average one-year price target for Ingredion is $110.57. The forecasts range from a low of $101.00 to a high of $126.00. The average price target represents an increase of 14.92% from its latest reported closing price of $96.21.
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The projected annual revenue for Ingredion is $8,615MM, an increase of 8.42%. The projected annual non-GAAP EPS is $8.10.
What is the Fund Sentiment?
There are 948 funds or institutions reporting positions in Ingredion. This is an increase of 37 owner(s) or 4.06% in the last quarter. Average portfolio weight of all funds dedicated to INGR is 0.35%, an increase of 36.90%. Total shares owned by institutions decreased in the last three months by 0.12% to 66,063K shares. The put/call ratio of INGR is 0.32, indicating a bullish outlook.
What are Large Shareholders Doing?
Lsv Asset Management holds 2,585K shares representing 3.92% ownership of the company. In it's prior filing, the firm reported owning 2,598K shares, representing a decrease of 0.53%. The firm increased its portfolio allocation in INGR by 13.56% over the last quarter.
Yacktman Asset Management holds 2,308K shares representing 3.50% ownership of the company. In it's prior filing, the firm reported owning 2,353K shares, representing a decrease of 1.94%. The firm increased its portfolio allocation in INGR by 9.07% over the last quarter.
IJH - iShares Core S&P Mid-Cap ETF holds 2,024K shares representing 3.07% ownership of the company. In it's prior filing, the firm reported owning 1,915K shares, representing an increase of 5.42%. The firm increased its portfolio allocation in INGR by 12.24% over the last quarter.
VTSMX - Vanguard Total Stock Market Index Fund Investor Shares holds 1,892K shares representing 2.87% ownership of the company. In it's prior filing, the firm reported owning 1,872K shares, representing an increase of 1.07%. The firm increased its portfolio allocation in INGR by 13.53% over the last quarter.
Massachusetts Financial Services holds 1,778K shares representing 2.70% ownership of the company. In it's prior filing, the firm reported owning 1,443K shares, representing an increase of 18.82%. The firm decreased its portfolio allocation in INGR by 99.98% over the last quarter.
Ingredion Background Information
(This description is provided by the company.)
Ingredion Incorporated, headquartered in the suburbs of Chicago, is a leading global ingredient solutions provider serving customers in more than 120 countries. With 2020 annual net sales of $6 billion, the Company turns grains, fruits, vegetables and other plant-based materials into value-added ingredient solutions for the food, beverage, animal nutrition, brewing and industrial markets. With Ingredion Idea Labs® innovation centers around the world and approximately 12,000 employees, the Company co-creates with customers and fulfills its purpose of bringing the potential of people, nature and technology together to make life better.
This story originally appeared on Fintel.